Technical Studies Reference
Volume At Price Threshold Alert V2
The Volume At Price Threshold Alert V2 study gives a visual indication marker, text alert and optionally an audible alert when the Bid Volume, Ask Volume, Total Volume, Number of Trades, or Ask Volume Bid Volume Difference at any price level within the current bar exceeds the specified threshold.
An email or SMS message can also be sent. The text message is displayed in Window >> Alert Manager >> Alerts Log. If you only want the text message, set the Volume Alert Number Input to No Alert Sound.
This study has 59 Subgraphs, one for each price level that meets the threshold condition. By default the Draw Style for these Subgraphs are set to Square Offset Left Body. If you set the Subgraphs to a visible Draw Style, then make sure the study is as far down in the list of Studies to Graph in the Chart Studies window as possible. Otherwise, the particular Draw Style you are using may be drawn behind other studies on the chart and not be visible or partially cut off.
Effective with version 1519, when changing any of the Subgraph display related settings (Color, Draw Style, Width) for the first Subgraph, then those will automatically be applied to the remaining Subgraphs. Therefore, it is only necessary to change these Subgraphs settings for the first Subgraph.
- Comparison Method: This Input sets the particular volume data at a price level that is compared with the Volume Threshold or Percentage Threshold value in order to determine whether an alert and visual indication is generated. The options are
- Bid Volume
- Ask Volume
- Total Volume
- Number of Trades
- Ask Volume Bid Volume Difference
- Ask Volume Bid Volume Diagonal Difference
- Ask Volume Bid Volume Ratio
- Ask Volume Bid Volume Diagonal Ratio
- Bid Volume and Ask Volume Separately
The calculation for Ask Volume Bid Volume (Diagonal) Ratio is as follows: When Ask Volume is greater than Bid Volume, it is Ask Volume / Bid Volume * 100. When Bid Volume is greater than Ask Volume, it is Bid Volume / Ask Volume * -100.
When using Diagonal Ask Volume Bid Volume Difference, the Bid Volume at one price level is subtracted from the Ask Volume at the next higher level. The visual indication marker and extension line will always be at the price level of the Bid price used in the difference calculation.
When using Ask Volume Bid Volume Diagonal Ratio, the ratio of Ask Volume at the next higher price level to the Bid Volume at a price level is calculated. The visual indication marker and extension line will always be at the price level of the Bid price used in the ratio calculation.
- Volume Threshold: This Input sets the value of the volume data selected in Comparison Method that has to be met or exceeded at any price level within the current bar to generate an alert and visual indication. If this is set to 0, then the comparison is an equals comparison only.
This Input does not apply when using Ask Volume Bid Volume Ratio or Ask Volume Bid Volume Diagonal Ratio for the Comparison Method. Instead these Comparison Methods rely on the Percentage Threshold Input.
- Volume Alert Number: This Input sets the Alert Sound Number to use when the Volume Threshold has been met. To configure the Alert Sound Number, refer to Alert Sound Settings.
- Draw Extension Lines: When this Input is set to Yes, then at a price level for a chart bar that has met the Volume Threshold, a line will be drawn from that price level at that chart bar forward until it intersects with a future chart bar and it will stop at that bar. The Color, Line Style and Line Width are all controlled through the Extension Line Properties Study Subgraph setting.
- Percentage Threshold: This sets the percentage threshold when the Comparison Method Input is set to Ask Volume Bid Volume Ratio or Ask Volume Bid Volume Diagonal Ratio. This can be set to a negative value. 1 equals 1%. 100 equals 100%.
- Additional Volume Threshold : This threshold Input is used when the Comparison Method is set to Bid Volume and Ask Volume Separately. It is used to set the Ask Volume threshold. The Volume Threshold Input sets the Bid Volume threshold.
*Last modified Monday, 13th November, 2017.